Hedge Fund Tycoon Paul Marshall Calls for Man Utd Overhaul After European Super League Fiasco (Hedge Week)
Sir Paul Marshall, co-founder of UK hedge fund giant Marshall Wace, and ex-Goldman Sachs Asset Management chairman Lord Jim O’Neill are demanding an overhaul of Manchester United’s corporate structure to give supporters more say in the club’s affairs following this week’s European Super League fiasco. Marshall and O’Neill have written to Manchester United co-chairman Joel Glazer demanding sweeping reforms to the way the football club is run, including changes in its share class, a new fan-controlled supervisory board, and an end to the Glazer family’s majority stake. The missive comes after plans for a breakaway competition involving the continent’s footballing elite collapsed within days amid a furious backlash from fans, football administrators and politicians.
Ray Dalio Gives Employees a Personality Test—Here’s One Dalio Created that You Can Take for Free (CNBC Make It)
Billionaire Ray Dalio believes in the usefulness of personality assessments – he has used a number of different personality tests for recruitment and management purposes at his hedge fund, Bridgewater Associates. Now, with the help of expert psychologists, including organizational psychologist and bestselling author Adam Grant, Dalio has developed a new online personality assessment that anyone can take for free.
A Hedge Fund, a Jewish School and $1.1 Billion in Cum-Ex Trades (Bloomberg)
Sanjay Shah, a former hedge fund manager charged in two countries over the Cum-Ex scandal, is accused by German prosecutors of using a Jewish school in New York to execute trades totaling 920 million euros ($1.1 billion) as part of a plan to deceive tax authorities. Shah and a partner at his Solo Capital Partners LLP in 2011 sought to take advantage of the tax-exempt status of Ezra Academy in Queens for the trades, Hamburg prosecutors said in a February indictment seen by Bloomberg News. The men used “purportedly authentic” documents to buy shares on behalf of the school and claim refunds, prosecutors said.
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The Hedge Fund Set to Buy Tribune Publishing Mismanaged Employees’ Pensions, Federal Investigators Found (The Washington Post)
Hedge fund Alden Global Capital probably violated federal pension protections by putting $294 million of its newspaper employees’ pension savings into its own funds, according to a Labor Department investigation. Alden is the leading bidder for Tribune Publishing’s titles, including the Chicago Tribune and Baltimore Sun. It has already purchased at least 200 newspapers, often aggressively cutting staff and selling off the papers’ assets to boost profits.
Hedge Fund Assets Climb to $3.8 Trillion in First Quarter – HFR (Pensions&Investments)
Worldwide aggregate hedge fund assets reached an estimated $3.801 trillion as of March 31, data by Hedge Fund Research showed. The total represents a 5.6% increase from $3.6 trillion three months earlier, the fourth straight quarter of rising assets, according to the firm’s quarterly asset flow report released Wednesday. Hedge fund assets fell 11% to $2.957 trillion in the quarter ended March 31, 2020, due primarily to the economic impact of the COVID-19 pandemic.
Hedge fund guy resurfaces in London, discovers exits to the EU (eFinancialCareers.com)
People are trickling back to offices in the City of London. – Plenty of Goldman Sachs and JPMorgan staff returned after the Easter break and Deutsche Bank’s incoming interns mean most DB bankers and traders will need to be in the London and New York offices from June. But when London bankers get back to their desks, they may find the landscape different to when they were last around late in 2020 – contacts and colleagues have moved to the European Union post-Brexit.
Alcoa Corp (AA) President, CEO & Director Roy Christopher Harvey Sold $7.8 million of Shares (Guru Focus)
President, CEO & Director of Alcoa Corp, Roy Christopher Harvey, sold 238,037 shares of AA on 04/20/2021 at an average price of $32.91 a share. The total sale was $7.8 million. Alcoa Corp is an integrated aluminum company. The company engages in aluminum production from bauxite mining to manufactures finished aluminum goods.
Best Nordic Hedge Fund Overall 2020 (Hedge Nordic)
Stockholm (HedgeNordic) – The title for the “Best Nordic Hedge Fund” rewards the best fund in the Nordic hedge fund universe across all categories. Undeniably, this award is the crown jewel handed out at the Nordic Hedge Award and is likely the most desired recognition in the Nordic hedge fund industry. At 17:00 CET on Friday, HedgeNordic announced the winners and runners-up in the “Best Nordic Hedge Fund – Overall” category supported by CME Group. At this year’s Nordic Hedge Award, Lucerne Nordic Fund came out on top, securing the title for the “Best Nordic Hedge Fund Overall” award, along with the “Best Nordic Equity Hedge Fund” of 2020.
Archegos Thwarts Nomura’s Push to Join Wall Street Elite (Bloomberg)
News of the blowup spread through financial circles in Tokyo to the pulse of a familiar refrain: not again. Nomura Holdings Inc. had run into trouble far from home, this time, with the giant implosion of Archegos Capital Management in New York. Few institutions have been as humbled by the Archegos debacle as Nomura, the forever-striving giant of Japanese finance.
The Chief Operating Officer of Nedbank Group (Other OTC: NDBKF) is Selling Shares (Analyst Ratings)
Yesterday, the Chief Operating Officer of Nedbank Group (NDBKF), Mfundo Clement Nkuhlu, sold shares of NDBKF for $1.67M. In addition to Mfundo Clement Nkuhlu, 6 other NDBKF executives reported Sell trades in the last month. Following Mfundo Clement Nkuhlu’s last NDBKF Sell transaction on December 11, 2020, the stock climbed by 0.7%.
Oak Street Health Inc (OSH) CEO Michael T Pykosz Sold $5.3 million of Shares (Guru Focus)
CEO of Oak Street Health Inc, Michael T Pykosz, sold 90,000 shares of OSH on 04/22/2021 at an average price of $59.17 a share. The total sale was $5.3 million. Oak Street Health Inc has a market cap of $14.38 billion; its shares were traded at around $59.730000 with and P/S ratio of 14.89.
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